Regional Economic Development Planning

This chapter discusses the origins and key features of the main regional economic development strategies common to practice in developed countries, covering the major topic areas for a course on regional economic development (RED). It begins with an overview of the history of the idea of “economic development” within planning, and how the increasing globalization of trade and financial markets shaped thinking about RED. The chapter then describes topics often covered in RED teaching, including the development of clusters, direct investment, the industrial base of a region, and the components necessary to anchor and sustain regional economies. It concludes with a discussion of teaching RED to planners, with an emphasis on context and careful institutional design.